Crimea Offers To Help Ship Iranian Oil

Crimea, the territory that Russia annexed from Ukraine in 2014, is ready to assist Iran in transporting crude oil via Crimean ports, Georgy Muradov, the Deputy Prime Minister of Crimea, told Russian news agency TASS. Iran’s traditional oil route toward the Mediterranean passes through the Suez Canal, but this route is now closed for the Islamic Republic because of the ...

Source: Oilprice.com

Israel, Saudi Arabia To Preempt Dialogue Between Trump & Iran

President Trump has made it less and less a secret that he is pushing for new talks with Iran to "negotiate a better deal" after previously pulling out of the JCPOA. He and French President Emmanuel Macron at the close of the G7 on Monday actually spoke as if a potential meeting with Iran's President Hassan Rouhani would be "soon" in the works....

Source: Oilprice.com

Crimea Offers To Help Ship Iranian Oil

Crimea, the territory that Russia annexed from Ukraine in 2014, is ready to assist Iran in transporting crude oil via Crimean ports, Georgy Muradov, the Deputy Prime Minister of Crimea, told Russian news agency TASS. Iran’s traditional oil route toward the Mediterranean passes through the Suez Canal, but this route is now closed for the Islamic Republic because of the ...

Source: Oilprice.com

Will ‘Chill, Baby, Chill’ be the Mantra for OCTG in 2019?

XTO Energy - Delaware Basin

Photo Courtesy XTO Energy

Susan Murphy | The OCTG Situation Report

Susan Murphy | Publisher + Editor-in-Chief

As we make our way through the dog days of August one begins to wonder if the “drill, baby, drill” mantra from 2008 will evolve into “chill, baby, chill” for 2019? OFS brass are forecasting drilling activity for the balance of the year will be ‘chillin,’ while softening OCTG prices ...

US Looks To Catch Up In Crucial Energy Tech Race

The need for a flourishing energy technology sector, both in the United States and worldwide, is now more pertinent than it has ever been before. As populations around the globe continue to grow and the middle classes of such massive societies as China and India are booming and, therefore, so too their ever-expanding energy demand, the demand for traditional fossil ...

Source: Oilprice.com

Permian Boom Collides with New Mexico Governor’s Climate-change Push (Wednesday, 28 August 2019)

Diana Cerny has an oil boom to thank for the packed tables at her restaurant in Carlsbad, New Mexico.

Gushing shale production has brought boot-clad workers from all over the world to this Permian basin city less than an hour north of the Texas border. White F-150s filled the parking lot of the Pecos River Cafe on a recent morning ...

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Trade Wars: It’s Time To Dial It Down A Bit

Remember when oil markets used to be driven by oil headlines? What quaint times. We used to write about things like Middle East supply outages, OPEC deals and crude backlogs in Cushing. We’d discuss the financial health of frackers, daily supply/demand balances, refinery maintenance season and monthly Chinese imports. It was all very last season. 2017 stuff. And in August ...

Source: Oilprice.com

The Battle For Libya’s Oil Bounty

The Powerful Vultures Circling Libya General Khalifa Haftar grossly underestimated the extent that external forces would clamor for Libya’s natural resource bounty once he unleashed his offensive on Tripoli. The vultures wasted no time in descending on this lucrative venue, and they include everyone from China and Russia, to Italy, France, Qatar, the UAE and Saudi Arabia, not to mention ...

Source: Oilprice.com

Why Shell’s Natural Gas Bet Will Pay Off

Anglo-Dutch Shell announced an A$617 million ($418 million) offer for Australia’s ERM Power in August marking another move by the oil and gas major into the power sector. In March this year, Shell completed its rebranding of the UK’s First Utility as Shell Energy, having bought the electricity retailer in 2018. While still small in comparison with its forecast upstream ...

Source: Oilprice.com

Strong Downstream Demand Supports Oil Markets

The spiraling tensions between the United States and China have rocked the crude market, reinforcing concerns that global demand growth might turn even weaker than feared. Market analysts have been quick to calculate that slapping a 5-percent tariff on US exports would imply a $3 per barrel additional cost to American barrels, rendering them economically inexpedient. The ongoing trade row ...

Source: Oilprice.com

The Fight For The World’s Hottest Crude Market

Last week we have looked into the rise of US crude exports to Europe, an upsurge characterized by seasonal upswings, a rather non-uniform spread of demand on the back of an overwhelmingly market-based setup. Things are a little bit different when it comes to US crudes conquering Asia, a prime contributor to ever-growing crude demand, as politics steps into the ...

Source: Oilprice.com

Saudi Aramco Sells Its First-Ever West Texas Light Crude In Trading Push

Aramco Trading has sold its first-ever West Texas Light (WTL) cargo as part of Saudi Aramco’s ambition to become a top oil trader, Reuters reported on Wednesday, citing four people with knowledge of the matter. According to the sources, Aramco Trading Company has sold the 1-million-barrel cargo of WTL to South Korean refiner Hyundai Oilbank, with which the Saudi oil ...

Source: Oilprice.com

Can China Double Its Gas Output By 2040?

China is set to double its natural gas production by 2040, but challenges in developing shale gas resources have led to a lower production outlook and expectations of more imports in the long term, Wood Mackenzie said on Wednesday.   China’s domestic natural gas supply is forecast to double to 325 billion cubic meters (bcm) in 2040 from 149 bcm ...

Source: Oilprice.com

Case Study: Halliburton Installs World’s First 9 5/8-inch Multibranch Inflow Control System in North Sea

New TAML Level 5 FlexRite® MIC System Enables More Possibilities for Advanced Multilateral Completions

Challenge – In March 2017, a Norwegian operator approached Halliburton, needing a new TAML Level 5 multilateral technology (MLT) solution for its mature field in the North Sea. While the operator had been using Halliburton MLT technology successfully for many years in this field, its ...

Canada’s Energy Watchdog Throws Bone To Oil Producers At Enbridge’s Expense

The Canadian Energy Regulator, formerly the National Energy Board, will delay a change proposed by Enbridge in the way it does business with oil producers that has angered these same producers. Enbridge’s proposal, according to Reuters, involves a switch to fixed-volume, long-term contracts for 90 percent of the capacity on the Mainline pipeline network—the largest pipeline network that sends Canadian ...

Source: Oilprice.com

China Helps Venezuela Boost Oil Production

China has financed the construction of a new oil blending plant in Venezuela that will boost the country’s flagging oil production by 120,000 bpd, IHS Markit reports, citing an investment of US$3 billion, provided by China’s CNPC, PDVSA’s partner in the Sinovensa venture that will operate the new plant. The news could turn into yet another reason for disgruntlement in ...

Source: Oilprice.com